CMAC-Amerin Deal Signals Fierce Insurer Rivalry

The merger deal unveiled last week by two of the eight major mortgage insurance companies shows that even a small field can start to feel overcrowded in today's competitive financial services industry.

The $650 million deal pairs Amerin Guaranty Corp., one of the industry's innovators, with Commonwealth Mortgage Assurance Corp., a more traditional mortgage insurer, to create what would be the second-largest company in the small sector.